Introduction
Industrial Development Bank of Pakistan (IDBP) is one of Pakistan's oldest development financing institution created with the primary objective of extending term finance for investment in the manufacturing sector of the economy. Over the years, however, the Bank has emerged as an institution fostering the growth and development of Small and Medium Enterprise sector stimulating industrial progress in the rural/less developed regions of the country besides offering lucrative opportunities to the house-holds and institutions for the investment in its deposit schemes. Industrial Development Bank of Pakistan has also become an important component of the financial sector of Pakistan and is playing an active role in money and capital market of the country.
For attaining its objectives, the Bank provides medium and long term finance in local and foreign currencies for the creation of fixed assets to new industrial projects as well as for expansion, balancing, modernization or replacement of existing projects. It extends technical, financial and managerial advice to its clients in planning and execution of the industrial projects. It also facilitates transfer of technologies from developed countries to industrial enterprises in Pakistan.
Industrial Development Bank of Pakistan is wholly owned by Government of Pakistan with 57% of its shares held by Federal Government, 36% by State Bank of Pakistan and 7% by Provincial Governments and other Public sector corporations. Its Board of Directors consisting of the representatives of private sector is appointed by Ministry of Finance, Government of Pakistan.
A unique feature of Industrial Development Bank of Pakistan is that besides Development Financing Institution it is also a scheduled bank and authorized dealer of foreign exchange. Thus IDBP extends all kinds of merchant, investment and commercial banking services to its clients which include provision of short term advances, trade financing, lease financing, guarantees and under-writing. Thus Industrial Development Bank of Pakistan operates a full-fledged Bank in addition to its role as a development financing institution.
Industrial Development Bank of Pakistan has the unique distinction of financing the first ever projects for a diversified list of products. These include Ultra High Temperature (UHT) pack milk, three wheelers, radio/wireless receiving sets, marble processing, coal mining, granite, acetic yarn, PVC deep sea fishing etc. The projects implemented through IDBP’s financing generated over 100,000 new jobs and have an export potential of about Rs.10.00 billion per annum. The value addition by the completed project is estimated at about Rs.15 billion per annum.
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